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Successor Agency Staff Report
April 1, 2014
ITEM
Staff Report: Successor Agency's Investment Report for the quarter ended December 31, 2013.
BACKGROUND
The California Government Code (§ 53646(b)) requires that, when the treasurer or the chief
fiscal officer of a local agency renders to the legislative body of the agency a quarterly report on
the agency's investment portfolio, such report shall include the following information regarding
all securities, investments, and moneys held by the local agency:
3> type of investment;
v issuer (bank or institution);
Y date of maturity;
�0 dollar amount invested; and
v current market valuation as of the date of the report.
In addition, the Government Code (§ 53646(b)(2)) requires that the report states the City's
compliance with its investment policy and includes a statement regarding the ability of the local
agency to meet its pool's ability to meet its expenditure requirements Code (§ 53646(b)(3)).
OVERVIEW OF SUCCESSOR AGENCY INVESTMENTS
The Successor Agency invests most of its funds with the California Treasurer's Local Agency
Investment Fund ("LAIF"). This is a liquid investment pool, which allows participants to cam
market rate returns of large investments, while retaining access to funds within 24 hours of a
withdrawal request. For the quarter ended December 31, 2013, the LAIF's interest rate was
0.24%.
The investment of debt service reserve funds; the 1999, 2004, 2005, and 2011 Tax Allocation
Bonds; and the HUD Section 108 Loan Program funds are maintained by the designated fiscal
agent. These funds account for 16.89% of the Successor Agency's portfolio.
Summaries of the Successor Agency's investment portfolio are illustrated on the next page.
Page 2
Staff Report: Successor Agency's Investment Report for the quarter ended December 31, 2013.
April 1, 2014
SUMMARY OF INVESTMENT PORTFOLIO
For the Quarter Ended December 31, 2013
% of
Investment Type
Book Value
Market Value
Portfolio
LAIF
$ 33.345.612
$ 33,354,622 z
83.11%
Cash with Fiscal Agent
6.776,242
6,776,242
16.80%
Totals
$ 40.121.754
$ 40,130.864
100,00%
TOTA KET
W,130,864
Cash with
Fiscal Agent Aim
$6,776,24'
4
COMPLIANCE STATEMENT
All of the Successor Agency's investments are in compliance with the City's investment policy
(City Council Policy No. 203) and the California Government Code Q 53601 et seq).
4WGhCy F43 W1111IV11331 moll
Total LAIF gains/(losses), realized and unrealized, for the period were $21,485.
Staff certifies that there are sufficient funds to meet the pool's expenditure requirements.
RECOMMENDATIONS
Accept and file the Successor Agency Investment Report for the quarter ended December 31,
2013.
SUCCESSOR AGENCY - CDC OF NC
Portfolio Management
Portfolio Summary
December 31, 2013
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SUCCESSOR AGENCY -CDC OF NC
Portfolio Management
Pag.2
Portfolio Details - Investments
December 31, 2013
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